Montauk Renewables, Inc. Announces Approval of Provisional California Air Resource Board Carbon Intensity Score for Pico Energy Site in Idaho
28 Marzo 2023 - 2:15PM
Montauk Renewables, Inc. (NASDAQ: MNTK) (the “Company”) today
announced that on March 27, 2023 the Company’s Tier 2 application
with the California Air Resource Board (CARB) was certified (the
“Project”).
The Company sought provisional certification of a Tier 2 pathway
for biomethane (Bio-CNG) production at its Pico Energy facility in
Idaho from anaerobic digestion of dairy manure. Pico Energy, LLC
owns and operates the facility which upgrades biogas to biomethane.
The biomethane is then injected into the pipeline onsite and
supplied to CNG vehicles in California as bio-CNG.
The approved provisional Carbon Intensity Score (CI Score) is
-260.56. This certified CI value will be used to report and
generate Low Carbon Fuel Standards credits (LCFS Credits) for fuel
quantities from the Pico Energy facility starting with the fourth
quarter of 2022.
About Montauk Renewables, Inc.
Montauk Renewables, Inc. (NASDAQ: MNTK) is a renewable energy
company specializing in the management, recovery and conversion of
biogas into RNG. The Company captures methane, preventing it from
being released into the atmosphere, and converts it into either RNG
or electrical power for the electrical grid (“Renewable
Electricity”). The Company, headquartered in Pittsburgh,
Pennsylvania, has more than 30 years of experience in the
development, operation and management of landfill methane-fuelled
renewable energy projects. The Company has current operations at 15
operating projects located in California, Idaho, Ohio, Oklahoma,
Pennsylvania, North Carolina and Texas. The Company sells RNG and
Renewable Electricity, taking advantage of Environmental Attribute
premiums available under federal and state policies that
incentivize their use. For more information, visit
https://ir.montaukrenewables.com
Company Contact: John Ciroli Chief Legal
Officer and Secretary investor@montaukenergy.com(412) 747-8700
Investor Relations Contact: Georg Venturatos
Gateway Investor Relations MNTK@GatewayIR.com (949) 574-3860
Safe Harbor Statement
This release contains forward-looking statements regarding our
approval of the provisional California Air Resource Board Carbon
Intensity score for the Pico Energy site in Idaho and the credits
that may be generated from Q4 of 2022.
Forward-looking statements are necessarily subject to numerous
assumptions, risks and uncertainties, which change over time.
Future events or circumstances may change our expectations and may
also affect the nature of the assumptions, risk and uncertainty to
which our forward-looking statements are subject. The
forward-looking statements in this release speak only as of the
date of this release, and we assume no duty, and do not undertake,
to update them. Actual results or future events could differ,
possibly materially, from those that we anticipated in these
forward-looking statements. As a result, we caution against placing
undue reliance on any forward-looking statements.
Forward-looking statements are subject to risks, uncertainties
and other factors, many of which are beyond the Company’s control
and are difficult to predict, including, without limitation, the
price of LCFS credits, the number of LCFS credits generated by our
dairy farms, the reduction or elimination of economic incentives
for renewable energy projects risks related to the acquisition,
financing, construction and development of new projects and the
other risk factors described in more detail in the Company’s 2022
Form 10-K and other filings with the U.S. Securities and Exchange
Commission at www.sec.gov. We have included this web address as
inactive textual reference only. Information on this website is not
part of this document.
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